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13:54
UKRAINE ADDITIONS TO GAS STORAGE SLOWS 30% IN Q2

Kyiv, August 6 (Interfax) - Ukraine pumped 6.38 billion cubic meters (bcm) of gas into underground storage facilities in the second quarter of 2009, 30% less than in the same period last year, the Fuel and Energy Ministry told Interfax.

Another 2.8 bcm was pumped into storage in July, 27.3% more than in July 2008.

Ukraine's underground storage facilities held 22.25 bcm of gas as of August 2009, 4.5% less than on August 1, 2008 (23.3 bcm) and 12.7% less than on August 1, 2007 (25.5 bcm).

Prime Minister Yulia Tymoshenko has called for raising the amount in storage to 27 bcm before the onset of the 2009-2010 heating season.

Thus, in August-October another 4.75 bcm must be pumped into storage. That will cost $942 million, assuming all the gas is imported at a price of $198.34 per 1,000 cubic meters.

Ukraine had record gas reserves at the end of the 2008-2009 heating season, amounting to 16.843 bcm as of May 1, 2009, which is 11.8% more than on the same date in 2008 and 11.6% more than on May 1, 2007.

Ukraine has 13 underground storage facilities with capacity for over 31 bcm. Twelve of the facilities as well as the trunk pipeline system are operated by Ukrtransgaz, a company in the Naftogaz Ukrainy group. The other facility is operated by Chornomornaftogaz, another Naftogaz subsidiary.

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